NWG // SUSTAINABILITY STATEMENT
E4 Biodiversity and ecosystems
New Wave Group has identified the following material impacts, risks and opportunities related to biodiversity and ecosystems *:
Material impacts, risks and opportunities related to biodiversity and ecosystems |
Related policy considering the management of material impacts, risks and opportunities related to biodiversity and ecosystems |
The policy is described in detail in the relevant section of this report |
Key activities |
Impact – Indirect impact on biodiversity
CSR and Environmental policy:
- Under the section Reduced climate impact – emissions, water, biodiversity, the climate impacts arising from production are considered, which have an indirect impact on biodiversity.
Risk – Physical risks CSR and Environmental policy:- Central to the sustainability strategy and business development, and therefore indirectly considers material risks and opportunities.
E1 page 60
E1 page 60
See the key activities presented under E1 Climate Change, E2 Pollution, and E3 Water and Marine Resources.
Risk Policy- Considers the Group’ s risk management
S1 / G1 page 78 / 89
* Further information can be found in the chapter ESRS 2 General Disclosures, under the section SBM‐3: Material impacts, risks and opportunities and their relationship with strategy and business model.
New Wave Group have applied the phase-in opportunity for ESRS E4 in accordance with ESRS 2 and therefore does not fully report in accordance with the standard.
Disclosure requirements related to the general management of impacts, risks and opportunities are addressed in the introductory chapter ESRS 2 General Disclosures, under the section IRO-1: Description of the process to identify and assess material climate related impacts, risks and opportunities. The management of impacts, risks and opportunities related to biodiversity and ecosystems has followed a similar approach.
In the materiality assessment, New Wave Group has considered relevant direct drivers of biodiversity, with a focus on the parts of the value chain where the impact is assessed to be the most significant. The analysis primarily covers pollution, water use and climate change in the upstream activities, as well as dependencies on ecosystem services such as access to water and raw materials. Other drivers of impact have been assessed as having limited relevance for the business at present.
New Wave Group does not have any own operations located in, or directly adjacent to, areas with sensitive biodiversity. However, the Group sources textile raw materials and products from countries such as Bangladesh and India, where raw material production and wet processing may have negative impacts on biodiversity and ecosystems.
These activities are considered systemic risks, primarily due to their impact on water scarcity and the depletion of natural resources that are critical to the Group’ s products. The Group has, at this stage, not conducted an assessment of transition risks or physical risks directly related to biodiversity and ecosystems.
Beyond stakeholder involvement in the double materiality assessment, affected communities have not been consulted.
Transition plan and consideration of biodiversity and ecosystems in the strategy and business model New Wave Group currently does not have a specific transition plan for biodiversity and ecosystems related to the measures being implemented. Such a plan will be discussed with the aim of more clearly integrating biodiversity considerations into the strategy and business model.
Policies on biodiversity and ecosystems The New Wave Group CSR and environmental policy outline the Group’ s commitments to social and environmental responsibility. The policy considers material impacts related to biodiversity as part of its focus on reducing climate impact and the impacts arising from activities in the upstream production chain, in particular water management and chemical pollution. The policy also addresses the introduction of more sustainable materials and technologies, which indirectly encompasses consequences for biodiversity. A more detailed description of the policy is provided under E1-2: Policies related to climate change mitigation and adaptation.
The policy does not cover social consequences related to biodiversity and ecosystems. However, the Group is aware of the societal impacts that its activities may entail and strives to
072 // ANNUAL REPORT